Translation: You might not have until 8/2 to get a spanking, which will feel like some sort of armageddon compared to normal, but will be negligible compared to an actual default.

Keep playing politics pubbies. Oh that's right, I'm on a board where 50% of the poll responders say "Hey let's just default!"

The something for nothing crowd at their finest.

PFnV

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This is comparable to when the teacher tells a student to spell CAT and the first letter is C and the last T. I was listening to a (R) congressman on Hardcopy who was comparing the debt ceiling to Don't Ask-Don't Tell. Thus, Moody's must be in on this conspiracy theory. Problem with this theory is, if your wrong the countries deficit goes berserk.

Hey, just raise the debt ceiling again tomorrow, and instead of defaulting in a few weeks, we crash in two years. 42% of our spending is borrowed if I've been hearing things right. Wow.

BTW, I read today that the Italian government has had a 6-7% drop in cash for six straight months. They're next on the international chopping block. Like I've been saying for a long time now. We (the western world basically) don't have a revenue problem, we have a spending problem.

Hey, just raise the debt ceiling again tomorrow, and instead of defaulting in a few weeks, we crash in two years. 42% of our spending is borrowed if I've been hearing things right. Wow.

BTW, I read today that the Italian government has had a 6-7% drop in cash for six straight months. They're next on the international chopping block. Like I've been saying for a long time now. We (the western world basically) don't have a revenue problem, we have a spending problem.

I could probably slash $300-400 billion off the top with no problem were I given the budget and an axe. Everything would be on the table. Defense, entitlements, education dept, corporate subsidies, free trade agreements, illegals, etc. Everything. We won't see that until we legitimately go under. It's inevitable that we will eventually go bankrupt. Absolutely inevitable.

Hey, just raise the debt ceiling again tomorrow, and instead of defaulting in a few weeks, we crash in two years. 42% of our spending is borrowed if I've been hearing things right. Wow.

BTW, I read today that the Italian government has had a 6-7% drop in cash for six straight months. They're next on the international chopping block. Like I've been saying for a long time now. We (the western world basically) don't have a revenue problem, we have a spending problem.

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Italy needs something like 1.3M new immigrants each year to be working and paying taxes in order to maintain government services.

Italy needs something like 1.3M new immigrants each year to be working and paying taxes in order to maintain government services.

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The problem is additionally the immigrant. Those increasingly coming from sub-Saharan Africa need a host of services and aren't as productive as others, such as from The Philippines taking care of the elderly and wiping grandma's butt.

In a post-industrial economy what use is a goat herder from Somalia with an IQ well below the Italian norm? He or she will more likely drain resources than add to the till.

In another thread, the discussion was about the future of Europe, and I added here and here that Europe has lost its vitality, which is largely a religious issue with people being practical materialists and having only one child per couple. Birth rates are very telling, something that's also a problem in Quebec and Rhode Island and parts in between.

Ratings agency Moody's on Monday suggested the United States should eliminate its statutory limit on government debt to reduce uncertainty among bond holders.

The United States is one of the few countries where Congress sets a ceiling on government debt, which creates "periodic uncertainty" over the government's ability to meet its obligations, Moody's said in a report.

"We would reduce our assessment of event risk if the government changed its framework for managing government debt to lessen or eliminate that uncertainty," Moody's analyst Steven Hess wrote in the report.

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Of course, one could argue that having a limit provides certainty of a sort (i.e. sets a limit on total outstanding debt), but luckily bubbles only happen in the evil private sector.

The problem is additionally the immigrant. Those increasingly coming from sub-Saharan Africa need a host of services and aren't as productive as others, such as from The Philippines taking care of the elderly and wiping grandma's butt.

In a post-industrial economy what use is a goat herder from Somalia with an IQ well below the Italian norm? He or she will more likely drain resources than add to the till.

In another thread, the discussion was about the future of Europe, and I added here and here that Europe has lost its vitality, which is largely a religious issue with people being practical materialists and having only one child per couple. Birth rates are very telling, something that's also a problem in Quebec and Rhode Island and parts in between.

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Awesome! You managed to somehow connect the credit rating due to the debt ceiling issue with black people! Apparently no stretch is too far for the Spartan....Sucking up to the Italians on the board with the compliment about their IQ's being higher than Somalis. Hear that RW?

Awesome! You managed to somehow connect the credit rating due to the debt ceiling issue with black people! Apparently no stretch is too far for the Spartan....Sucking up to the Italians on the board with the compliment about their IQ's being higher than Somalis. Hear that RW?

...Nope...no racism here. No one's a racist on this board.

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Now, I'm not saying you're wrong, but in fairness to the point made, Italy does suffer from a high level of invaders from Africa. Think of Africa as being Italy's southern border, USA style. Furthermore, most of the 3rd world is not white Wistah, and if you toss political correctness out the window, the 3rd world population is generally less educated than it's western counterparts. So by sheer rule it's usually going to be that the 3rd world illegals (mostly minority) who move into western world countries (mostly white), are going to be low skilled and barely educated. You might not like it, and it might not be PC, but that's reality.

Oh, and not for nothing, State must be talking about northern Italians and IQ. Cuz where I'm from in southern Italy, most residents couldn't spell IQ.

Now, I'm not saying you're wrong, but in fairness to the point made, Italy does suffer from a high level of invaders from Africa. Think of Africa as being Italy's southern border, USA style. Furthermore, most of the 3rd world is not white Wistah, and if you toss political correctness out the window, the 3rd world population is generally less educated than it's western counterparts. So by sheer rule it's usually going to be that the 3rd world illegals (mostly minority) who move into western world countries (mostly white), are going to be low skilled and barely educated. You might not like it, and it might not be PC, but that's reality.

Oh, and not for nothing, State must be talking about northern Italians and IQ. Cuz where I'm from in southern Italy, most residents couldn't spell IQ.

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I get all of that. I would never dispute that the 3d world is less educated or less skilled than the 1st world. Without being PC at all, no one could argue rationally that geography and climate don't play important roles in the lack of development in the countries of the middle of the planet. Sorta like the comparison between New Englanders and Oklahomans. You just can't get any traction or progress when your town is getting wiped out by famine, drought, tornadoes, or monssons. Who's better off? Bangladesh or Pakistan. I'm betting it's Pakistan, although they are nearly identical racially and culturally, right? The key difference is geography. Not everyone on the planet can cram into Virginia, Germany or France, as much as they would like to...and they do try.